Foreclosure shopping options

1 Reply

As a new investor which deal is better to Start with?

1-invest on a multifamily deal where I could stay and use one Unit for myself and rent others (house hacking)?

2-invest on a cheap but sure foreclosure apartment and flip it to gain interest?

(Please consider the fact to get a mortgage with 3.5 - 5 % down payment I'll need job verification w2 which I had till March for 2 years but I changed my career in March and started as a self employed)

I'm not sure If different lenders in the market matching my situation?


It sounds like you may need to speak with lenders for both scenarios and see what/if you can get pre-qualified for.  Their response may give you the direction you are looking for. My first property I purchased was a duplex and lived in it and it covered my expenses, so for me personally, it was a good way to start in investing.